Stifel Nicolaus Boosts Air Canada (TSE:AC) Price Target to C$30.00

Key Points

• Stifel Nicolaus raised its price target on Air Canada from C$25.50 to C$30.00 and kept a buy rating, implying about 31.5% upside from the current share price.
• Other analysts have also been revising their targets, with mixed changes but an overall Moderate Buy consensus and an average price target of C$25.25 across the coverage.
• Air Canada shares recently traded at C$22.81, near the middle of their 52-week range, while the company reported a recent quarterly loss of C$0.05 per share on C$5.79 billion in revenue.

Air Canada (TSE:AC - Get Free Report) had its target price lifted by research analysts at Stifel Nicolaus from C$25.50 to C$30.00 in a research note issued to investors on Wednesday,BayStreet.CA reports. The firm presently has a "buy" rating on the stock. Stifel Nicolaus' price objective points to a potential upside of 31.52% from the company's current price.

AC has been the topic of a number of other reports. ATB Cormark Capital Markets decreased their price objective on Air Canada from C$33.00 to C$32.00 and set an "outperform" rating on the stock in a research report on Wednesday, April 29th. Royal Bank Of Canada boosted their target price on Air Canada from C$22.00 to C$28.00 and gave the company an "outperform" rating in a research report on Monday, June 29th. TD decreased their price target on Air Canada from C$23.00 to C$21.00 in a report on Monday, April 20th. Jefferies Financial Group raised their price target on Air Canada from C$17.00 to C$19.00 in a research report on Tuesday, March 31st. Finally, Canaccord Genuity Group lifted their price objective on shares of Air Canada from C$20.00 to C$26.00 and gave the stock a "hold" rating in a research note on Monday, July 6th. Six investment analysts have rated the stock with a Buy rating and four have issued a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average price target of C$25.25.

Air Canada Price Performance

Shares of TSE:AC traded up C$0.08 on Wednesday, reaching C$22.81. The company's stock had a trading volume of 908,893 shares, compared to its average volume of 2,940,204. The company has a 50-day simple moving average of C$22.48 and a 200 day simple moving average of C$20.28. Air Canada has a 52-week low of C$16.45 and a 52-week high of C$25.50. The company has a debt-to-equity ratio of 452.24, a quick ratio of 1.05 and a current ratio of 0.60. The company has a market cap of C$6.72 billion, a P/E ratio of 9.43, a PEG ratio of 0.02 and a beta of 2.00.

Air Canada (TSE:AC - Get Free Report) last announced its earnings results on Thursday, April 30th. The company reported C($0.05) earnings per share (EPS) for the quarter. The business had revenue of C$5.79 billion for the quarter. Air Canada had a net margin of 3.46% and a return on equity of 34.23%. As a group, equities research analysts anticipate that Air Canada will post 2.5789474 EPS for the current fiscal year.

About Air Canada

Air Canada is Canada's largest airline, the country's flag carrier and a founding member of Star Alliance, the world's most comprehensive air transportation network. Headquartered in Montréal, Air Canada provides scheduled service directly to more than 180 airports in Canada, the United States and Internationally on six continents. It holds a Four-Star ranking from Skytrax. Air Canada's Aeroplan program is Canada's premier travel loyalty program, with more than 10 million members worldwide. Members can earn or redeem points on the world's largest airline partner network of more than 50 airlines, plus through an extensive range of merchandise, hotel and car rental partners.

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